Steppe Cement completes repayment of bonds

Kazakhstan-based, leading construction materials producer Steppe Cement has completed the repayment of bonds issued on 21 November 2012 for 1.5bn Kazakh Tenge, the firm announced on Friday.

Steppe said the repayment was financed from the company's cash flows, leaving the outfit with net debt of $16m, 70% in dollars and the rest in KZT.

The company's AIM nominated adviser and broker is RFC Ambrian Limited, a global independent adviser and investor in the natural resources market.